there are some reports you're going to be buying a hotel chain from india's biggest real estate company. is that right? >> we're buying a hotel chain here in the united states from pimco. >> l & r property. >> that's different. that's from five different owners. >> what are you buying? >> the spread between yields on property and interest rates today, given how aggressive lenders are at the moment is the widest maybe in my lifetime. you can earn very attractive interest rate -- or cash on cash returns in property in the united states right now. it's probably safest, i think, around the world, the u.s. is the safest place to invest still. europe is -- we're active there. we have some stuff under contract. europe's growth is a lotless likely than the united states is going for. we have this rabid consumer. he's a little off today. his home equity is going up. he's spending money. in europe, europe hasn't fixed itself. there could be significant demand destruction like office demand, rents could drop. shoppers will panic if the the euro falls apart. so we're being very careful in europe. b